Brookfield to invest up to $600 million in ACME's green molecules business

Brookfield's regional entry into green molecules

Brookfield will invest up to $600 million in ACME Cleantech Ventures, a UK-based privately held entity within the ACME Group, to support the construction of ACME's pipeline of green molecule projects in India and West Asia, the global investment firm said on Thursday. The investment is being made through Brookfield's Brookfield Global Transition Fund strategy, which is focused on net-zero carbon opportunities. Green molecules — such as green hydrogen, ammonia and methanol — are clean fuels produced using zero-carbon energy to reduce industrial emissions.

Deal structure and project pipeline

The Brookfield funding is structured as an equity deal, with ACME Group deploying the capital across four projects: Oman Phase 2, two green ammonia projects and a green methanol project being established in Odisha. ACME Chairman Manoj Upadhyay said the equity valuation is expected to be decided by the end of 2026 and that ACME will maintain a significant majority in all its projects and business entities. ACME's Oman Phase 1 is fully funded and is expected to be operational by March 2027.

ACME's existing portfolio and offtake partners

ACME's green molecules business operates a green ammonia facility in Bikaner, Rajasthan, and is advancing international plans through a green ammonia project in Duqm, Oman. ACME is establishing new facilities in Odisha following its Green Ammonia Purchase Agreement with the Solar Energy Corporation of India, alongside a joint venture with IHI Corporation of Japan and an offtake contract with Mitsubishi Gas Chemicals. The company has also secured offtake partnerships with Yara International of Norway and Indian fertiliser companies including IFFCO, Paradeep Phosphates, Coromandel International and Indorama India Private Limited.

Brookfield's India energy footprint

Brookfield has more than $1 trillion in assets under management and an energy portfolio comprising approximately 50 gigawatts of wind and solar assets in operation and in the pipeline in India. Nawal Saini, managing partner and head of energy for South Asia and the Middle East at Brookfield, said the ACME investment combines Brookfield's global scale and institutional capital with ACME's operating capabilities to accelerate decarbonisation.

Other developments

Separately, Brookfield has agreed to acquire plumbing manufacturer Reliance Worldwide for $2.8 billion, according to a separate report. Reliance Worldwide is described as the market leader in push-to-connect plumbing fittings, with operations spanning the Americas, EMEA and Asia Pacific.